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1. A share of common stock just paid a dividend of $1.00. If the expected long-run growth rate for this stock is 5.4%, and if it's investors required rate of return is 11.4%, what is the stock price? 2. An increase in a firm's expected growth rate would cause its required rate of return to _____ 3. Companies can issue different classes of common stock. Which of the following statements concerning stock is correct? a. All common stock fall into one of these three classes: A, B, and C b. All common stocks, regardless of class, must have the same voting rights c. All firms have several classes of common stock d. All common stock, regardless of class, must pay the same dividend e. Some class or classes of common stock are entitled to more votes per share than other classes 4. Huang company's last dividend was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the firm's required return (Rs) is 11%, what is its current stock price? 5. If D0=$1.75, g (which is constant) = 3.6%, and P0=$32.00, what is the stocks expected total return for the coming year? 6. If D1=$1.25, g (which is constant) =5.5%, and P0 = $44, what is the stock's expected total return for the coming year? 7. If markets are in equilibrium, which of the following conditions will exist? 8. Which of the following statements is correct, assuming stocks are in equilibrium? a. The dividend yield on a constant growth stock must equal its expected total return minus its expected capital gains yield b. Assume that the required return on a given stock is 13%. If the stock's dividend is growing at a constant rate of 5%, its expected dividend yield is 5% as well c. A stock's dividend yield can never exceed its expected growth rate d. A required condition for one to use the constant growth model is that the stock's expected growth rate exceeds its required rate of return. e. Other things held constant, the higher a company's beta coefficient, the lower its required rate of return 9. Which of the following statements is correct? a. The constant growth model takes into consideration the capital gains investors expect to earn in stock b. Two firms with the same expected dividend and growth rate must also have the same stock price c. It is appropriate to use the constant growth model to estimate a stock's value even if it's growth rate is never expected to be constant d. If a stock has a required rate of return Rs=12%, and if its dividend is expected to grow at a constant rate of 5%, this implies that the stock's dividend yield is also 5% e. The price of a stock is the present value of all expected future dividends, discounted at the dividend growth rate 10. Whited Inc.'s stock currently sells for 35.25 per share. The dividend is projected to increase at a constant rate of 4.75% per year. The required rate on the stock, Rs, is 11.50%. What is the stock's expected price 5 years from now? 11. Preferred stock is a hybrida sort of cross between a common stock and bondin the sense that it pays dividends that normally increase annually like a stock but its payments are contractually guaranteed like interest on a bond True or false? 12. The market value of any real or financial asset, including stocks, bonds, or art work purchased in hope of selling it at a profit, may be estimated determining future cash flows and then discounting them back to the present. True or false? 13. If the discounted (or interest) rate is positive, the future value of an expected series of payments will always exceed the present value of the same series. True or false? 14. Starting to invest early for retirement reduces the benefit of compound interest True of false? 15. You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for your investment to grow to $30,000